RCM Technologies, Inc. (NASDAQ:RCMT – Get Rating) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $15.61 and traded as high as $18.46. RCM Technologies shares last traded at $17.75, with a volume of 56,635 shares.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on RCMT. Benchmark lifted their target price on shares of RCM Technologies to $30.00 in a research report on Monday, August 15th. StockNews.com upgraded shares of RCM Technologies from a "buy" rating to a "strong-buy" rating in a research report on Friday, August 19th. Finally, B. Riley upgraded shares of RCM Technologies from a "neutral" rating to a "buy" rating and set a $23.00 target price for the company in a research report on Monday, August 15th.
Get RCM Technologies alerts:RCM Technologies Trading Down 3.5 %
The business's fifty day moving average is $18.82 and its 200-day moving average is $15.61. The stock has a market capitalization of $181.09 million, a PE ratio of 9.01 and a beta of 0.89. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.01.
RCM Technologies (NASDAQ:RCMT – Get Rating) last released its quarterly earnings data on Thursday, August 11th. The business services provider reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.05. RCM Technologies had a net margin of 7.97% and a return on equity of 57.58%. As a group, analysts anticipate that RCM Technologies, Inc. will post 1.98 EPS for the current fiscal year.Insider Buying and Selling at RCM Technologies
In other news, CFO Kevin D. Miller sold 16,250 shares of the company's stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $24.00, for a total transaction of $390,000.00. Following the completion of the transaction, the chief financial officer now owns 583,750 shares in the company, valued at $14,010,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Chairman Bradley Vizi sold 92,026 shares of the company's stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $26.20, for a total transaction of $2,411,081.20. Following the completion of the transaction, the chairman now owns 1,375,000 shares in the company, valued at $36,025,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kevin D. Miller sold 16,250 shares of the stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $24.00, for a total transaction of $390,000.00. Following the completion of the transaction, the chief financial officer now owns 583,750 shares of the company's stock, valued at approximately $14,010,000. The disclosure for this sale can be found here. Insiders sold a total of 118,576 shares of company stock worth $3,076,621 over the last 90 days. Insiders own 23.90% of the company's stock.
Hedge Funds Weigh In On RCM Technologies
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC bought a new position in RCM Technologies in the 2nd quarter valued at about $413,000. Occudo Quantitative Strategies LP bought a new position in RCM Technologies in the 2nd quarter valued at about $460,000. Cubist Systematic Strategies LLC bought a new position in RCM Technologies in the 2nd quarter valued at about $449,000. Sei Investments Co. bought a new position in RCM Technologies in the 2nd quarter valued at about $456,000. Finally, Renaissance Technologies LLC grew its position in RCM Technologies by 21.2% in the 2nd quarter. Renaissance Technologies LLC now owns 737,965 shares of the business services provider's stock valued at $14,936,000 after buying an additional 128,992 shares in the last quarter. Institutional investors own 33.71% of the company's stock.
About RCM Technologies
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RCM Technologies, Inc provides business and technology solutions in the United States, Canada, Puerto Rico, and Serbia. It operates through three segments: Engineering, Specialty Health Care, and Life Sciences and Information Technology. The Engineering segment offers a range of engineering services, including project management engineering and design, engineering analysis, engineer-procure-construct, configuration management, hardware/software validation and verification, quality assurance, technical writing and publications, manufacturing process planning and improvement, and 3D/BIM integrated design.
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